- The new Yuan Up variant starts at RMB 74,800 ($10,400), a 25 percent reduction from the previous entry-level variant.
- The new variant's range has been reduced from 401 km to 301 km, and it does not come with an smart driving system, suggesting a shift in BYD's strategy.
BYD (HKG: 1211, OTCMKTS: BYDDY) has introduced a new, more affordable variant of the Yuan Up, expanding the compact electric SUV's appeal to a broader range of potential customers.
The new energy vehicle (NEV) maker today added the new variant with a starting price of RMB 74,800 ($10,400), a reduction of RMB 25,000, or 25 percent, from the previous entry-level model's price of RMB 99,800.
The new variant is equipped with a 32-kWh battery pack and has a CLTC range of 301 kilometers.
The other three variants of the Yuan Up are all equipped with a 45.12-kWh battery pack and have a CLTC range of 401 kilometers.
In addition to the smaller battery pack, the new variant does not feature an smart driving system. The other three variants are equipped with the God's Eye C smart driving system, which is based on the DiPilot 100 smart driving solution.
BYD increased its bet on intelligent driving capabilities earlier this year, launching 21 models equipped with driver assist systems on February 10, saying at the time that all of its models would offer the God's Eye system.
In the next two to three years, advanced smart driving capabilities would become as essential a vehicle feature as seat belts and airbags, said BYD chairman and president Wang Chuanfu at the time.
The lack of smart driving features in the new Yuan Up variant suggests a shift in BYD's smart driving strategy. This may be partly because smart driving features may not have increased the appeal of BYD vehicles as expected.
Over the past two months, sales of the Yuan family of models, including the Yuan Plus Smart Driving Edition and Yuan Plus Honor Edition, have seen significant declines.
The family sold 31,711 and 25,727 units in May and June, down 21.18 percent and 28.97 percent year-on-year, respectively, according to data compiled by CnEVPost.
The Yuan family sold 191,011 units in the first half of this year, up 11.96 percent year-on-year, contributing 8.90 percent of BYD Group's sales during the same period.
As of now, the Yuan family has sold a total of 1.5 million units, BYD announced today.
The Yuan Up was first launched on March 26, 2024. The compact electric SUV has already been launched in multiple overseas markets under the name Atto 2, including Europe and Malaysia.
($1 = RMB 7.1905)
